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Louisiana's Solar Tax Credit Under Review
Source:
renewableenergyworld.com
- Oct 22, 2012
By Todd C. Elliott, The Eunice News
October 16, 2012
Louisiana, USA -- The Louisiana Department of Revenue weighed the future benefits of solar energy at a public hearing last week in Baton Rouge.
Homeowners in Louisiana can choose solar-generated electricity and realize a 50-percent, one-time, refundable, state income tax credit for the purchase and installation of the system under provisions of the Wind and Solar Energy Systems Tax Credit created by state legislation in 2007.
Louisiana’s investment in this incentive program is something the solar energy industry does not want to see fade away.
Nearly 100 people, from all over the state and nation, filed into the hearing room to shed some light on LDR’s rules for the Income Tax Credits for Wind or Solar Energy Systems.
The solar power industry generated more than just energy that day as more than a dozen people registered to speak.
“It appears there was a lot of interest,” said Byron Henderson, press secretary for the Department of Revenue, “This is just a public hearing on proposed rule changes for the tax credits on the wind and solar energy systems.”
Tucker Crawford, co-owner of a Louisiana-based solar energy company and president of the Gulf States Renewable Energy Industries Association – which is a non-profit, trade organization that represents solar and renewable energy firms in Louisiana, Mississippi and Alabama– told the committee that the entire Louisiana solar industry has far exceeded the state’s initial estimates.
“That’s a good thing to Louisiana energy consumers,” Crawford said. “In 2007, Louisiana only had five licensed solar installers. Today, we have 196 and counting; many of them are represented here today.”
Crawford said that the 2007 state law – which allowed income tax credits for wind or solar energy systems purchased and installed by taxpayers to cut costs on their homes or buildings – has created local jobs, increased the state’s energy independence and reduced or eliminated utility bills for more than 3,100 Louisiana households.
He said that according to his projections, the state’s solar-electric consumers can save an estimated $90 million over the life of these installed systems.
“This (tax) credit has helped deliver as many as 1,000 direct and indirect paying jobs...to Louisiana,” he said. “Suppliers, professional services, transportation industries, specialty contractors and money others are benefitting from this tax credit.”
Crawford said that in addition to the new job creation, the long-term utility bill savings for consumers “translates into disposable household income to directly enhance the state’s economy”.
Also addressing the committee was Stephen Shelton, executive director of the Louisiana Clean Tech Network, who said promoting solar energy use is in the state’s best interest.
“We believe the people in this room and in the industry represented proves here today that solar energy is here for the future,” Shelton said. “It’s not a new industry. It’s been around for over 10 years and it’s not an industry that is going to fade away.”
READ MORE:
http://www.renewableenergyworld.com/rea/news/article/2012/10/louisianas-solar-tax-credit-under-review
Category: Louisiana
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